Karman Stock Surges 42% After Record Third-Quarter Results and Raised Outlook

Karman Holdings Inc. (NYSE: KRMN) shares rose 42.1% on Friday, Nov. 6, 2026, closing at $45.61 against a previous close of $32.09, after the company reported record third-quarter results and raised its fiscal 2026 outlook. The S&P 500 ETF (SPY) rose 0.31% over the same session, and the stock traded on roughly 3.6 times its normal volume.

The catalyst was a press release furnished with an 8-K filed on Nov. 5, 2026, after the market closed. The results came out the evening before the session, so the move happened in the next trading day.

Record quarter and higher guidance

Karman reported third-quarter revenue of $201.6 million, up 65.6% from a year earlier, and net income of $20.9 million, or $0.16 per diluted share. Adjusted EBITDA rose 60% to $60.5 million, and adjusted earnings per diluted share were $0.19, compared with $0.10 a year earlier. Backlog reached $1.7 billion at quarter-end, up 108% from the end of fiscal 2025.

The company raised its fiscal 2026 revenue outlook to $755 million to $760 million and its adjusted EBITDA outlook to $225 million to $227 million, excluding any future acquisitions.

Contract wins and acquisitions

Quarterly bookings were nearly $465 million, including a seven-year contract with Lockheed Martin supporting the THAAD program. The company also completed its acquisition of Walker Precision Holdings Limited, expanding its presence in the European defense market.

Chief Executive Jon Rambeau said the company was negotiating two additional long-term agreements and pursuing three more opportunities.

Analyst view

Piper Sandler kept its Overweight rating on Karman and raised its price target to $60 from $59, according to a rating action logged before the open on Nov. 6.

The company did not give a specific reason for the size of the share price response beyond the results and guidance it published.